Statement of Qualifications

Vega Paláu & Co. is an independent accountants' firm founded in 1979 by Victor Vega Paláu, its managing partner. Vega Paláu & Co. renders accounting, auditing, tax management services, and micro-computer systems and design services to the Puerto Rican community. Partners of the firm are Mr. Victor Vega, Mrs. Aileen M. Vega and Mr. Ricardo Ruiz. Offices are located at 1608 Ponce de León Avenue, Suite 204, San Juan, Puerto Rico.

The moving idea behind the firm of Vega Paláu & Co. is that a Puerto Rican firm of Certified Public Accountants can offer as good service as a "Big Five' Public Accounting firm, both to small and large businesses, while charging reasonable fees.

Vega Paláu & Co. operates under the philosophy that, in addition to the expected qualifications of technical competence, independence, integrity and confidentiality, an accounting firm must have an imaginative, creative and practical approach to the new developments and problems which are being encountered by businesses today. The achievements of Vega Paláu & Co. are mainly due to the personal attention given to clients, who have shown satisfaction and in turn refer other businesses to the firm.

The partners and associates of Vega Paláu & Co. have a vast experience, having worked for numerous years in various of the "Big Five" firms in Puerto Rico, including Touche Ross & Co., Price Waterhouse, Ernst & Young, and Laventhol & Horwath. In addition to the partners and associates, Vega Paláu & Co. has a professional staff who assists in rendering the required services.